Of the 40 coal blocks in question, 18 supply coal to power projects.
The Supreme Court is expected to decide today whether 218 coal block allocations made since 1993, which it said were illegal, should be cancelled.
The government has left it to the court to decide on all coal allocations, but has hinted at different treatment for 40 blocks already in production, as well as six which are expected to come online this year.
The government's affidavit suggests a formula to not cancel 46 allotments, and instead impose a cess on the coal they produce, a proposal that comes amid looming fears of a power crisis caused by coal shortage.
Separately, many of the companies operating the blocks have pointed to the huge investments they stand to lose should the allotment of these blocks be cancelled.
But data from the government's own affidavit shows that neither may be the case.
Of the 40 coal blocks currently in operation, 18 supply coal to power projects whose total capacity, according to the government, is 10,000 MW. That is only five per cent of India's overall power production of approximately 2.5 lakh MW.
As far as the question of profits is concerned, information is available for 18 coal blocks based on submissions of the companies themselves. These show a total investment of Rs.3,621 crores in these blocks.
Together, these 18 blocks have mined 204 million tonnes of coal since coming into operation.
At an approximate market value of Rs. 1000 per tonne (calculated on an average, conservative rate of coal sold by Coal India, the monopoly coal vendor), the value of coal mined comes to Rs. 20, 400 crores.
This, says Sudiep Srivastava, a petitioner in the case, amounts to a windfall gain of almost seven times the amount invested. Mr Srivastava argues that there is no need for special treatment for these blocks, and that their allotments too must be cancelled. Till they are re-allotted, he says, Coal India can manage these blocks.